Default values will be false for both properties.
noKeyBinding means that the action will not be visible in Tools->Options->Keymap.
noIconInMenu means that a possible icon that the action may have will not be added to menu items (it will only be present in toolbar presenters).
The annotation fields will translate into "no-keybinding" and "noIconInMenu" action properties and they are handled appropriately by appropriate options and presenters.